Cantonment, Florida Property Taxes
The median property tax rate in Cantonment, FL is 0.73%, which is significantly lower than both the national median of 0.99% and Florida's state median of 1.14%. With a median home value of $220,496 in Cantonment, the typical annual property tax bill amounts to $1,560, well below the national median of $2,690. Property taxes in Cantonment are calculated based on the assessed value, which often falls below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cantonment's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cantonment or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cantonment, Florida Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,610
$1,523
Ownwell’s Cantonment Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cantonment with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cantonment to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cantonment, Florida
Property taxes in Cantonment, Florida, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cantonment is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Cantonment set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cantonment estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Cantonment's effective property tax rate to other areas in Florida and the national median. For comparison, the zip code 32533 has both the highest and lowest median property tax rate in the region at 0.73%. Understanding how these figures compare with Cantonment provides valuable insights into the varying tax landscape across Escambia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cantonment Tax Rate
0.73%
Average Escambia County Tax Rate
0.90%
Average Florida Tax Rate
1.14%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cantonment, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32533 | 0.43% | 0.57% | 0.73% | 1.20% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Cantonment, Florida
In Cantonment, Florida, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Escambia County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Cantonment, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Cantonment helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 32533 has the highest and lowest median tax bill at $1,560, with the 25th percentile tax bill at $814 and the 75th percentile at $2,497.
Average Cantonment Assessed Value
$220,496
Average Escambia County Assessed Value
$168,090
Average Florida Assessed Value
$276,648
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cantonment, Florida
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32533 | $66,909 | $132,286 | $220,496 | $280,680 | $355,652 |
Source: Ownwell
Property Tax Bills Across Cantonment, Florida
In Cantonment, Escambia County, FL, property tax bills are calculated based on the property's assessed value, which is determined by local tax assessors. The assessed value is a percentage of the market value of the home. Homeowners in Cantonment see a range of property tax bills, with the 25th percentile at $814 and the 75th percentile reaching $2,497. The highest median tax bill in the area is $1,560, and the lowest is also $1,560, both occurring in the 32533 zip code. Several factors influence the final tax bill, including local tax rates and any applicable exemptions or deductions. For instance, homeowners may qualify for homestead exemptions, which can significantly reduce the taxable value of their property. Compared to the national median property tax rate of 0.99%, Cantonment's property tax rates can vary but often provide a relatively affordable option for homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Cantonment Tax Bill
$1,560
Average Escambia County Tax Bill
$1,398
Average Florida Tax Bill
$2,953
Average United States Tax Bill
$2,690
Property Tax Bills Across Cantonment, Florida
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32533 | $405 | $814 | $1,560 | $2,497 | $3,446 |
Source: Ownwell
Don't miss the deadline to petition!
Dates | |
|---|---|
| Property Valuation Date | January 1 |
| Appeal Deadline | September 13 |
| Tax Bill | |
| Issued | November 1 |
Links | |
|---|---|
| Escambia Property Appraiser | |
| Website | www.escpa.org |